In August, Tesla CEO Elon Musk announced the launch of its highly anticipated robotaxi. The electric vehicle maker has long been planning an autonomous car, with Musk emphasizing the importance of self-driving features in increasing the value of Tesla’s vehicles. This year, Tesla began to release its driver-assistance software more widely.
On Friday, Musk took to X (formerly known as Twitter) to announce the upcoming reveal of the robotaxi. Shares of Tesla surged more than 3% in after-hours trading following the announcement. Musk has previously highlighted Tesla’s Full Self-Driving software as a significant factor in increasing the value of the company’s cars. While the software is currently in the beta testing phase, it is now referred to as FSD “supervised.”
Other companies, such as Alphabet’s Waymo division and GM-backed Cruise, have successfully launched more advanced versions of autonomous vehicles. Reuters recently reported that Tesla had scrapped plans for a cheaper electric car to focus more resources on the robotaxi project, a claim that Musk vehemently denied on X.
The pricing and availability of the robotaxi remain unclear, with FSD currently costing $200 a month for car owners with compatible hardware. Musk has also hinted at a future Tesla model optimized for operating at the lowest cost per mile, with an estimated production date of 2024. He believes that this model will be a significant driver of Tesla’s growth.
